Ch. 737

1997 LAWS OF MARYLAND

5-1203.

(A) (1) THE CORPORATION IS A BODY POLITIC AND CORPORATE AND IS
CONSTITUTED AS A PUBLIC INSTRUMENTALITY OF THE STATE OF MARYLAND.

(2) THE EXERCISE BY THE CORPORATION OF THE POWERS CONFERRED
BY THIS SUBTITLE SHALL BE DEEMED TO BE THE PERFORMANCE OF AN ESSENTIAL
PUBLIC FUNCTION.

(B) (1) A BOARD OF DIRECTORS SHALL MANAGE THE AFFAIRS OF THE
CORPORATION AND SHALL EXERCISE ALL OF ITS CORPORATE POWERS.

(2) (I) THE BOARD OF DIRECTORS SHALL CONSIST OF 15 MEMBERS
APPOINTED BY THE BOARD OF COUNTY COMMISSIONERS OF WASHINGTON COUNTY.

(II) THE SECRETARY OF BUSINESS AND ECONOMIC DEVELOPMENT,
THE EXECUTIVE DIRECTOR OF THE MARYLAND ECONOMIC DEVELOPMENT
CORPORATION, AND THE EXECUTIVE DIRECTOR OF THE WASHINGTON COUNTY
ECONOMIC DEVELOPMENT COMMISSION SHALL BE EX OFFICIO MEMBERS.

(3) (I) THE TERM OF AN APPOINTED MEMBER OF THE BOARD IS 4

YEARS.

(II) EACH MEMBER SHALL TAKE AN OATH TO ADMINISTER THE
DUTIES OF THE OFFICE FAITHFULLY AND IMPARTIALLY.

(III) (II) THE TERMS OF APPOINTED MEMBERS SHALL BE
STAGGERED TO ENSURE LONG-TERM CONTINUITY IN BOARD ACTION.

(IV) (III) AT THE END OF A TERM, A MEMBER CONTINUES TO
SERVE UNTIL A SUCCESSOR IS APPOINTED.

(V) (IV) A MEMBER WHO IS APPOINTED AFTER A TERM HAS
BEGUN SERVES ONLY FOR THE REST OF THE TERM AND UNTIL A SUCCESSOR IS
APPOINTED.

(C) (1) THE BOARD SHALL ELECT ONE OF ITS MEMBERS AS CHAIRMAN, ONE
AS VICE CHAIRMAN, AND ONE AS TREASURER.

(2) EIGHT MEMBERS OF THE BOARD CONSTITUTE A QUORUM, BUT
ACTION MAY NOT BE TAKEN BY LESS THAN THE VOTE OF EIGHT MEMBERS.

(3) A VACANCY IN THE MEMBERSHIP OF THE BOARD OF DIRECTORS
DOES NOT IMPAIR THE RIGHT OF A QUORUM OF THE BOARD OF DIRECTORS TO
EXERCISE ALL RIGHTS AND PERFORM ALL THE DUTIES OF THE CORPORATION.

5-1204.

(A) (1) THE BOARD OF DIRECTORS SHALL APPOINT, SUBJECT TO APPROVAL
OF THE BOARD OF COUNTY COMMISSIONERS, AN EXECUTIVE DIRECTOR WHO
SHALL SERVE AT THE PLEASURE OF THE BOARD.

(2) THE SALARY OF THE EXECUTIVE DIRECTOR SHALL BE
DETERMINED BY THE BOARD.

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